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Payment Settlements With Clients And Suppliers
Payment Settlements With Clients And Suppliers

Learn how to put payables and receivables under control

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Written by Amalia
Updated over a week ago

Keeping track of balances with clients and suppliers is among the most important factors to measure the overall health of the business.

Client’s Balance — this may involve credit to be paid for obtained product / service, and deposit or reserve when work orders go on a pre-pay basis (positive).

Supplier Balance — this commonly applies to mutual settlements like deferred payments, outstanding invoices, and purchases on credit.

Keep track of your accounts payable and accounts receivable on the Finance > Balances page. Over there, you can find the list of clients (customers) and suppliers with outstanding balances.

The Receivable column shows the credit amount to be paid by a client or your deposit with a supplier when purchase orders are contracted on a pre-pay basis.

The Payable column shows all outstanding amounts owed by your company to clients and suppliers.

Once again, here may also display prepayments made by your clients. For example, you may receive 50 € from the client during work order entry. This way, your company owes that client 50 € until a corresponding set of services / materials is added to the work order.

The Balances column shows the balances of your clients and suppliers. The formula is simple:

Receivable amountPayable amount = Balance amount.

Elements can be sorted out by any column. Just press the one you need and the elements will be sorted in alphabetical order, click again to reverse the order. Below the table, you may find totals by each column.

Balances can be adjusted, learn more about adjusting balances in this article. If you have any questions about how to pay off debts, please go through this article.

Over the table, you can use basic filtering options to sort the data by Suppliers or Customers. Over there, you may also export data to your PC in the Excel file format.

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